Talladega College has secured additional funding to cover the cost overrun for its student activity center and dormitory construction project. The USDA Rural Development Office approved the more than $1.6 million loan. The money will assist Talladega College in purchasing furniture, fixtures, and equipment for the new facilities.
The college also gets $3 million in New Market Tax Credits. The tax credits will be used for the construction portion of this infrastructure project. In 2016, Talladega College secured $16 million for the construction project and nearly $3 million for construction overrun costs.